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Notice of Annual General Meeting 2017

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Notice is given that the Fifty Second Annual General Meeting of Shareholders of Heritage Isle Credit Union Ltd ACN 087 651 278, will be held at the Tail Race Centre - Waterfront Drive, Riverside, Launceston at 7.00 p.m., Thursday 23rd November 2017.


  1. To receive the Financial Report, Directors' Report and Auditor's Report for the year ending 30th June 2017.

  2. Remuneration of Directors. To consider and if thought fit, pass the following resolution:

    "That the aggregate remuneration payable to directors be increasead by 2.5% to $77,540 commencing with the 2018 calendar year, such amount to be apportioned amongst Directors at the discretion of the Board."

  3. To consider, and if thought fit, to pass the following as separate resolutions:
    (a) That Elizabeth Skirving be re-appointed as director.
    (b) That Doug Burt be re-appointed as director.

Chantal Filgate
Company Secretary




  • The Annual Reports are available at credit union branches or from 31st October 2017.


  • The Board has set the number of elected directors as 6. Directors Elizabeth Skirving and Doug Burt retire as directors at the end of the 2017 AGM, in accordance with the Credit Union’s Constitution and are nominated for re-election. As there are no other candidates for election, the election process is discontinued. Members will vote on the re-appointment of Elizabeth Skirving and Doug Burt by separate resolutions at the AGM.


  • A member entitled to attend and vote is entitled to appoint a proxy. A proxy need not be a member of the credit union. The Appointment of Proxy Form (and if the appointment is signed by the member’s Attorney, the authority under which the appointment was signed or certified copy of the authority) must be received at the registered Office at least 48 hours before the Meeting. A form of Proxy is available on request and can be obtained by contacting the Credit Union on 6334 9411, during business hours, or, by calling in person, to the Credit Unions Registered Office at 69 St John Street, Launceston Tasmania 7250.

RBA Cash Rate to remain unchanged

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The Reserve Bank has confirmed its decision to leave the official cash rate unchanged at 1.5 per cent during the board’s final monetary policy meeting for the 2016 year. This announcement, coupled with minor monetary policy changes, comes just in time for the Christmas holidays.

The RBA has reduced the official cash rate twice in 2016, with the current historic low staying in place since August. This rate is projected to stay in place during early 2017, and predictions indicate that the rate will continue to move towards a positive direction in future also.

With the global economy growing at a stable but lower than average pace, global inflation levels remain balanced due to reduced cost pressures around the world. Weak growths in labour costs are expected to see inflation levels “remain low for some time, before returning to normal levels.” The labour market in advanced economies has improved over the last year, alongside China’s economic outlook.

On a national level, the Australian economy continues its transition following the mining investment boom. Additionally, rising commodity prices have led to an increase in Australia’s terms of trade. However, trade levels are still much lower than they have been in recent years. This is also in line with the prospect of business investment, which is above average levels, yet still much lower than prior years.

The unemployment rate has reduced throughout the course of 2016, with part-time employment rising, albeit the overall employment growth rate slowing down. “There continues to be considerable variation in employment outcomes across the country”. In spite of this, employment is likely to expand in the near-term

RBA Governor Philip Lowe stated that “conditions in the housing market have strengthened overall, although they vary considerably around the country.” Growth in rent has slowed down immensely compared to previous decades, whilst a strong supply of apartments is forecasted, particularly for the Eastern capital cities.

“The board touched on the recent lift in global bond yields in the wake of Donald Trump’s victory in the US presidential election, noting that while they had risen, the adjustment had been orderly”.

If you have any questions about how this will affect you, please get in touch today.


Teaching your Children about money in the digital world

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'Invisible money' is becoming more prominent in the digital age, teaching your children about money and how to manage it is now more important than ever.

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Enhance your Mobile Security

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With the proliferation of smartphones and internet-connected devices, the focus of online security is rapidly shifting away from the desktop and towards mobile devices. Leading experts believe that the fast-paced embrace of mobile devices in our everyday lives are leaving us vulnerable to financial risks.

A 2014 Norton Report indicated that the total cost of cybercrime in Australia for 2013 was AU$1.06 billion, whilst the number of Australian cybercrime victims has reached 5 million. Despite these alarming statistics, many Australians are not aware of the dangers.

Read more: Enhance your Mobile Security


How to find the dream tenants for your Investment properties

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Over the past two decades, purchasing investment properties have made a great deal of money for some Australians by providing their owners’ with a constant stream of steady income. If you currently own an investment property, or are in the market for one, be aware that there are a number of different factors that can impact your return on investment. Of those considerations, having good tenants is of upmost importance.

Read more: How to find the dream tenants for your Investment properties


Local school gets a big helping hand from Heritage Isle

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When Karen Hinds, the Heritage Isle Beaconsfield branch manager, found out the local primary school had been vandalised over the holidays she was devastated. Herself and other staff at the branch had children who had attended Beaconsfield Primary and now the current students would be going back to a school without a playground.

"Children were about to go back to school and now they can't play on that equipment - it is sad" she said, talking to The Examiner last week. Parts of the school had been vandalised by graffiti and the playground had been burnt over the school holidays. Heritage Isle prides itself on being close to the community so it was important to give back and help rebuild. 

Annette Griffin, the Chief Executive of Heritage Isle, wanted to make sure the community knew they had a friend in Heritage Isle so the credit union donated $1000 to the school to help with the damage. "Our staff really concentrate on our grassroots and we bank with children, so it's really important that we can support them in some way, that is what motivated us to step in".

Mrs Griffin hopes that the actions of Heritage Isle will encourage more community groups to step in and help rebuild the school that has helped with the education of so many local children over the years. The feeling of giving back to a community is one that the staff at Heritage Isle cherish above all else.